Ta Nea, Greece: New company to replace Olympic Airlines

The Greek government is considering the closing of the Airline company Olympic Airlines, the Greek daily Ta Nea reports. Since Brussels continues to insist that the company returns to the state the subsidies it has been allotted /about EUR 500 Million/, the government is considering options to solve the problem. According to the information, the plans include the closing of Olympic Airlines in 2008, and the creation of a smaller company, which is to be sold immediately. The daily notes that the Prime Minister Kostas Karamanlis has okayed the idea and procedures are to start after they receive the approval of the European Commission.

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